Commodities
USDA Corn Sale and Slumping Condition Ratings Weigh on Futures
Corn futures closed lower on Wednesday, slipping 3 to 5.75 cents from previous sessions and reaching near session lows.
The USDA reported a private export sale of 182,880 MT of corn to Mexico for the 2026/27 shipment.
This week's Crop Progress report showed condition ratings down 1 percentage point at 46% in good to excellent condition.
A Bloomberg survey of traders predicts the USDA will cut yield on Friday by an average of 2.6 bpa, to an average of 178.1 bpa, with production seen dropping 236 mbu from August to 15.777 bbu.